Cyber threats aren’t to be taken lightly. It’s estimated that roughly 43% of small companies are “severely affected” by attacks that take advantage of unpatched exploits, and that these attacks are the primary reason 60% go out of business. Worse, data breaches are typically unnoticed for sixth months on average, according to the Ponemon Institute. And cybercrime is projected to cause damage of over $6 trillion annually by 2021, up from $3 trillion in 2015.
That’s where cybersecurity firms like enSilo come in, which experienced more than 250% year-over-year revenue growth last year alone. The Tel Aviv and San Francisco threat monitoring and remediation solutions provider today announced that it’s raised $28 million in series B funding, which brings its total raised to over $60 million following a $13 million series A raise in 2017. The round was led by JVP, and saw participation from existing investors Lightspeed Venture Partners, Rembrandt Venture Partners, and OG Tech.
“Today’s growth and funding news validate enSilo’s strategy and put competitors on notice. If you cannot provide comprehensive security while also helping to contain the cost of incidents in real-time like enSilo does, you are part of the problem — not progress — in our industry,” said enSilo CEO and cofounder Roy Katmor, who added that enSilo will use the capital to accelerate hiring and growth across the U.S., Israel, and Central and South America. “Complex and stealthy attacks which strike in seconds, disrupt operations and exfiltrate data are the new normal, and [our products] defeat these threats and their worst consequences through better protection and orchestration and automation of repetitive tasks.”
EnSilo’s platform, which can be deployed either in the cloud and on-premises, secures endpoints in real time pre- and post-infection by orchestrating detection of, prevention of, and incident response against malware and ransomware. Its dashboards expedite patching in a single agent that uses less than 1% CPU and only 40MB of RAM, with custom-made playbooks for incident response and algorithms capable of detecting malware that bypasses most antivirus prevention defenses.
Above: EnSilo’s cloud dashboard.
Image Credit: EnSilo
Recent enhancements to the suite include proactive virtual patching, which combines communication control policies, app regulation scores, and correlated vulnerability data to block suspicious code attempting to exploit unpatched software, and internet of things (IoT) discover and assessment, which inspects networks to discover previously unseen connected IoT devices and audit-related activities. In addition, thanks to expanded data correlation and orchestration integrations with network and gateway security products, enSilo’s products can enforce actions even on office and facility devices that don’t have its security agents installed.
Other spotlight features include forensics tools for investigating infected endpoints, remediation tools that revert changes performed by malicious software, tools that intelligently assign threat prevention rules to endpoint groups, and notifications that signal when malware has been stopped in its tracks. EnSilo supports legacy and newer releases of Windows, macOS, and Linux, and no matter the operating system or deployment environment, its team reviews and analyzes alerts to take action and provide recommendations and next steps.
“The influence of C-Suite stakeholders completely redefines views of cybersecurity operations today. Seemingly endless layers of ‘expense in depth’ security tools are no longer attractive,” Katmor added. “C-Level security sponsors are making everything about containing costs constraining their business — from ransomware disruptions to precious time wasted responding to attacks and framing security teams’ urgent decisions. enSilo’s platform boasts the integrated security defenses, data visualizations and automated features to be a front-line defense and strategic risk management resource.”
Perhaps unsurprisingly, driven by increasing attacks and subsequent venture capital backing enSilo and like firms, the global cybersecurity market is expected to eclipse $300 billion by 2024.
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via https://www.aiupnow.com
Kyle Wiggers, Khareem Sudlow
